June 2, 2009
Zimbabwe firm eyes beef exports to EU
The Cold Storage Company (CSC) of Zimbabwe needs more than US$23 million for recapitalisation, as it positions itself to resume beef exports to the EU market.
The money would be channeled towards cattle purchasing for direct slaughter and restocking CSC ranches, national herd rebuilding, rehabilitation of farm infrastructure, and slaughterhouses and equipment, said company CEO Ngoni Chinogaramombe.
He said recapitalisation would enable CSC to work towards resuming trade with the EU following a ban imposed on Zimbabwe in 2001 due to an outbreak of foot-and-mouth disease.
Chinogaramombe said the government needs to invest in that area and other areas of deficiency which the EU is expected to inspect before Zimbabwe will be allowed to export to the bloc.
Chinogaramombe said while the company enjoys trade with Angola and Mozambique, CSC was unable to meet the demand due to financial constraints.
CSC is ready to explore the Common Market for Eastern and Southern Africa (COMESA) market as it strives to increase exports, he added.
